Post
Topic
Board Nigeria (Naija)
Re: Government regulations are clogs to Bitcoin total decentralization
by
Adbitco
on 09/11/2024, 09:43:35 UTC
Although I can't blame governments on their stance to regulate cryptocurrency, mainly because of money laundering. We however can't say that Bitcoin is totally decentralized if governments that are centralized have so much influence in some parts of it's transactions.
You must understand is that exchanges such centralized exchange was the only place you can buy bitcoin since you can't send bitcoin to a random users for exchange for fiat. Okay, let assumed you didn't know this forum and you want to buy bitcoin how will get you to know someone who is to send you bitcoin and you send such person fiat?
This is very hard to do, bitcoin being decentralized doesn't mean that it wouldn't be listed on exchange nor traded on centralized exchange due to its nature, and before we can trade bitcoin in exchange we surely needs to pass some documentation in form of kyc to that exchange and through exchange regulations comes. That if why if you aren't that comfortable using exchange then i say you can use some p2p service provided here whom you might send your bitcoin and receive whatever currency you want as a return.